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China Plans to Cap Key Coal Price to Ease an Energy Crisis

Economic News

China Plans to Cap Key Coal Price to Ease an Energy Crisis

 

China plans to cap the prices of thermal coal sold by mining companies as part of efforts to ease the country’s energy crisis, which has led to periodic blackouts in many parts of China.

The National Development and Reform Commission, the country’s top economic body, aims to set the price of 5500-NAR coal in China at 440 yuan ($69) per ton Sources said.

 

This plan, which will last until May 1 of next year, needs the approval of the State Council and the Chinese government, and it may be modified, according to the sources.

 

The National Development and Reform Commission also wants to control the selling prices of coal from the mines, although it will be left to Chinese local governments to set standards that will limit the rise in coal trading prices locally.

 

Coal importing companies will also receive government support to compensate for their losses as a result of selling imported coal at less than its import prices.

 

 

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